Economics: Private and Public Choice
16th Edition
ISBN: 9781337642224
Author: James D. Gwartney; Richard L. Stroup; Russell S. Sobel
Publisher: Cengage Learning US
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Question
Chapter 24, Problem 14CQ
(a)
To determine
Filling of table with total revenue, marginal revenue, fixed cost and total cost.
(b)
To determine
Maximizing profit by charging price of $55
(c)
To determine
Price charging and output produced for maximizing the profit by estimating the demand and cost.
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Economics: Private and Public Choice
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